Tesco PLC Reports Strong First‑Half Performance and Raises FY27 Outlook
Tesco PLC (TSCO.L) announced on 8 October 2026 that its first‑half operating results surpassed expectations. The company recorded a profit before tax of £1.455 billion, an increase of 11.5 % from £1.305 billion in the corresponding period of 2025. Earnings per share grew 17.4 % to 16.7 pence from 14.2 pence.
Adjusted profit after tax reached £1.101 billion (up 7.4 % year‑on‑year), with adjusted earnings per share of 17.3 pence compared with 15.4 pence last year. Revenue excluding VAT, including fuel, rose 3.7 % to £37.353 billion, while sales excluding VAT and fuel increased 2.0 % to £33.776 billion. Constant‑currency sales grew 1.6 %, and group like‑for‑like sales advanced 1.0 % during the period.
The results prompted Tesco to increase its share‑buyback programme and to raise its forecast for FY27 adjusted operating profit to at least £3.15 billion. The company previously projected a range of £3.0 billion to £3.3 billion for the full year. The upward revision reflects stronger online sales, which have helped offset mounting cost pressures in the first half.
Tesco’s strategy to maintain market leadership includes expanding price‑matching to the discounter Aldi and delivering targeted offers through its Clubcard loyalty program. The company’s performance underscores continued resilience in consumer demand and operational efficiencies across its brick‑and‑mortar and online channels.
Financial data were sourced from Reuters‑style press releases and Bloomberg reports dated 8 October 2026. Market data for the share price and fundamentals are as of 6 October 2026.
